- 30% Total Stock Market (CAN)
- 15% World Total Stock Market
- 5% Emerging Markets
- 30% Intermediate Term Bonds (CAN) *
- 20% REITs (USA) **
(*) Swensen specifically calls for 15% TIPS as part of the bond portion of the portfolio. I don’t have good data for that asset, so I added it to the overall IT bond allocation. Be sure to read Swensen’s explanation for why he chooses the assets he does.
(**) If a USA REIT fund is not available, a broad global REIT fund is a good alternative. US real estate makes up a large percentage of global REITs so the numbers should be pretty close in normal portfolio percentages.
Because verified data is not available, this portfolio includes estimated returns prior to 1972. Data for those years is highlighted on each chart.
David Swensen is most famous for his role as chief investment officer of the Yale Endowment, and that often causes confusion when people talk about the “Yale Portfolio”. The Yale Endowment manages billions of dollars and invests in all kinds of exotic assets only available to large institutions. The portfolio here is different and is Swensen’s recommendation to people like you and me. /// More Info ///